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20121129
20121207
Search Results 0 to 4 of about 5 (some duplicates have been removed)
to congressional control over the debt ceiling. in return, president obama is offering republicans $400 billion in entitlement cuts over ten years. still to be negotiated. mr. obama also wants emergency unemployment benefits and a temporary payroll tax holiday extended along with the infrastructure spending and mortgage relief, the price tag for the president's stimulus bill could rise to $50 billion or more. after meeting with secretary geithner, speaker boehner said he didn't see any sign of compromise from the white house. >> first despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> eliot: no sooner had boehner finished then senate majority leader harry reid took the podium to challenge republicans to come up with their own plan. >> we're saying extend the tax cuts for middle class. as part of that, of course,
dangerous accounting deadline. the debt ceiling. and yes this is deja vu all over again. but i have a solution for president obama this time around. mr. president, turn the tables on him speaker boehner that is. we all recall the trap that the white house fell into last year, letting negotiations over the potential government shutdown be concluded only to be held hostage again when the republicans then refused to raise the debt ceiling without getting additional concessions. it was, as congressman welch said it was professional malpractice not to wrap the debt ceiling into the first round of negotiations. so don't do it again. the debt ceiling will necessarily and inevitably be hit and breached early next year. yet when president obama told speaker boehner at their november 16th meeting to raise the ceiling by year's end boehner said there is a price for everything. no, there doesn't have to be. sometimes what is necessary and good policy should just be done. the ceiling will be breached because of the fiscal track we're on and agreeing to the expenditures and revenues that are now
. it strikes fear in the markets. they say, president obama you better do something because the stock markets and the bond markets are reacting negatively to all these issues about the debt ceiling. but we saw what happened after august of 2011 we got downgraded. our debt was downgraded but the interest rates that we pay on our debt has fallen. the stock market has continued to rise. i think if we had that drama again, the treasury department has options. there is a constitutional option. no one believes that the u.s. government is going to default on its debt and stop paying interest on its bond. even if it did things are so bad throughout thest the rest of the world it would not cause people to dump our treasury securities. i don't think there is that much continuing that could be done even if we go down that road again. >> eliot: they have no place else to put their money. are they going to buy greek debt and declare a default? john boehner used that card. it failed, he got egg on his face and we were downgraded. all the negative things that people said would happen didn't happen and in fa
Search Results 0 to 4 of about 5 (some duplicates have been removed)